The legislation includes a provision that expands 529 allowable higher education expenses to include K-12 tuition as a qualified expense (up to $10,000 per beneficiary per year across all accounts). It also permits rollovers from 529 plans to ABLE plans for the same beneficiary or a qualified family member.

As of January 1, 2018, qualified higher education expenses will include distributions from your account up to $10,000 per year per beneficiary across all accounts to be used for tuition expenses for enrollment or attendance at a K-12 public, private, or religious school. State tax treatment may vary.

The only change is being able to use the account for K-12 tuition. There is no change to provisions covering higher education. The Plan Disclosure Document has been supplemented with updated information. We are in the process of incorporating the new provisions into other plan materials.

While qualified distributions for K-12 tuition expenses are federal tax-free, families may have to pay state income tax depending on their state of residence. Consult your tax professional for more information.

You can request a distribution by logging into your account at troweprice529.com, by calling our dedicated account holder line at 1-866-521-1894, or by completing a Distribution Form. Please allow up to two weeks for processing and mail time. Distribution checks for K-12 must be made payable to the account holder or the beneficiary, not the K-12 institution. State tax treatment may vary. You should discuss any K-12 distributions with a qualified tax advisor.

The current distribution options are still in effect, although for K-12 distributions, we will only be able to provide distributions directly to the account holder or the beneficiary and not to the K-12 institution.

The T. Rowe Price College Savings Plan is offered by the Education Trust of Alaska.
You should compare this Plan with any 529 college savings plan offered by your home
state or your beneficiary's home state and consider, before investing, any state tax
or other state benefits, such as financial aid, scholarship funds, and protection from
creditors that are only available for investments in the home state's plan.
Please read the Plan's Disclosure Document
which includes investment objectives, risks, fees,charges and expenses, and other information
that you should consider carefully before investing. For other important legal information, please read the
Plan's Privacy Policy.
T. Rowe Price Investment Services, Inc., Distributor/Underwriter.

*Morningstar analysts reviewed 62 plans for its 2018 ratings (10/30/18), of which 4 plans received
a "Gold" rating and 9 plans received a "Silver" rating.
Morningstar analysts reviewed 62 plans for its 2017 ratings (10/24/17), of which 4 plans received
a "Gold" rating and 10 plans received a "Silver" rating. Morningstar analysts reviewed 63 plans for
its 2016 ratings (10/25/16) of which 3 plans received a "Gold" rating and 10 plans received a
"Silver" rating; and 63 plans for its 2015 ratings (10/2015) and 64 plans for its 2014 ratings
(10/21/14), 2013 ratings (10/22/13) and 2012 ratings (10/15/12), of which 4 plans received a "Gold"
rating. To determine a plan's rating, Morningstar's analysts considered 5 factors: the plan's
strategy and investment process; the plan's risk-adjusted performance; an assessment of the individuals
managing the plan's investment options; the stewardship practices of the plan's administration and
parent firm; and whether the plan's investment options are a good value proposition compared with
its peers. Plans were then assigned forward-looking ratings of "Gold," "Silver," "Bronze," "Neutral,"
and "Negative." Each year, certain of the industry's smallest plans are not rated. Morningstar
analysts reviewed 58 plans for its 2011 survey, of which 6 plans received a "Top" rating, and 52 plans
for its 2010 survey, of which 5 plans received a "Top" rating. Ratings for each plan were based on five
factors: the quality of the underlying investment options; performance of those options; the skill of
the managers of those options; the costs associated with each plan; and the stewardship practices of
each plan's program manager. Plans were then assigned ratings of "Top," "Above Average," "Average,"
"Below Average," and "Bottom." To earn a "Top" rating, a plan must be best-in-class across all five areas.

Analyst Ratings are subjective in nature and should not be used as the sole basis for investment
decisions. Analyst Ratings are based on Morningstar analysts' current expectations about future
events and, therefore, involve unknown risks and uncertainties that may cause Morningstar's
expectations not to occur or to differ significantly from what was expected. Morningstar does not
represent its Analyst Ratings to be guarantees.

The mutual funds referred to in this website are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.Download a prospectus.